Exponential Growth and Decay

A population is growing continuously at a rate of 3%. If the population is now 5,000,000, what will it be in 17 years?

• about 8,300,000

• about 8,300

• about 9,000,000

• about 9,000

In 2008, the population of Rose Hill was 4,026 people. In 2000, it was 3,480. Determine the rate of continuous growth.

• about 1.3%

• about 1.5%

• about 1.1%

• about 2.0%

Mark bought a used car for $2500. It is expected to depreciate at a rate of 25% per year. What will be the value of the car in 3 years?

• about $1180

• about $3000

• about $500

• about $800

The population of a city 20 years ago was 24,330. Since then, the population has increased at a steady rate each year. If the population is currently 55,250, find the annual rate of growth for this city.

• about 4.1%

• about 5%

• about 6%

• about 3.1%

You put $7500 in a savings account paying 3% interest compounded continuously. Assuming there are no deposits or withdrawals from the account, what is the balance after 5 years? (section 7.7)

• $8713.76

• $9713.76

• $10,000

• $5,000

You put $7500 in a savings account paying 3% interest compounded continuously. How long will it take for your savings account to double? (section 7.7)

• about 23.1 years

• about 20 years

• about 10 years

• about 13 years

You put $7500 in a savings account paying 3% interest compounded continuously. In how many years will you have $10,000 in your account. (section 7.7)

• about 9.6 years

• about 20 years

• about 10 years

• about 7 years